New era of council house seems to be the answer

Gordon Brown is set to introduce a new era of council housing by helping local authorities purchase repossessed and unsold properties.

The idea behind this move is to encourage councils and housing associations to offer struggling borrowers the chance to have help in return for a steak in their home or buying it outright.

The amount of council housing in the UK has dropped considerably since 1981 when there was 6.1 million compared to today where there is just 2.5 million.

This idea comes after the housing market slumps further meaning the average property has lost 10.5 in the past 12 months.

It is thought that 4,000 estate agents have lost their jobs and this could rise to 10,000 by the end of the year.

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August 29^th 2008

• Woolwich cuts rate on BTL mortgage range
• Small falls in rates won’t help the housing market
• Let property investors benefiting from the credit crunch
• Investigation into Instant Access Properties Ltd (IAP)
• Housebuilders desperate, but not that desperate it seems
• Merger creates largest landlord association in the UK
• B and B still to pay for unsuccessful deal
• Prudence is the key for buy to let investors